How some condo associations in southeast Florida are surviving - and thriving

I've written in the past about the problems that many condo associations in southeast Florida are facing in the current tough economic climate. With general costs of upkeep (grounds, pool, lifts and so on) increasing, and some condo owners either failing to make their monthly maintenance payments (not to mention those units that may have fallen to foreclosure not being paid for at all), it is no surprise that some are struggling to budget accordingly.

However, the Sun Sentinel recently featured an article that showed that it doesn't always have to be doom and gloom for these associations - in fact, in one particular case, it's just the opposite. The condo association for the Melrose Point at Monarch Lakes development in Miramar (northeast of Miami; east of Hollywood) has managed to cut its cost by $30,000 by either re-negotiating current service contracts, or cutting unnecessary ones completely. They've also done their best to regulate maintenance payments, putting those owners that have fallen behind on payment plans.

The association is now (admittedly, self-nominated) for the Florida Communities of Excellence Awards, for which about 200 associations have been put forward. And they even appear to have a snazzy website (Melrose Point at Monarch Lakes Condominium Association) on which there's a private, residents' only section, as well as a page on which maintenance payments can be made online. How useful is that?

Article: Community associations find ways to thrive (26th January 2010, Sun Sentinel)

Florida, 2nd best place to live in the U.S.

A couple of days ago, the Guardian reported about a recent study that concluded the happiest - and least happiest - places to live in the United States. In a list of 51 states (the odd number comes from counting the 50 American states plus Washington D.C.), Florida came out as the second happiest place to live in America, behind Louisiana.

Might that have something to do with gorgeous weather and beautiful beaches. Yes, very likely! Imagine spending your winter months with regular trips to the beach, temperatures in the mid twenties celsius, no rain in sight, and a more relaxed pace of life.

Here's a photo of Dania Beach just this December - looks pretty chilled, huh?

Spare a thought for New York, which came out as the least happy place to live. Hey, I never though it was that bad - perhaps New Yorkers just complain more?

With that, I wish all my readers a very Happy Christmas whether you may be!

Article: New York a hell of a place – with the emphasis on hell (22nd December 2009, The Guardian)

Property prices are falling across the U.S.

Today's Miami Herald reports that property prices in the U.S. are falling as sellers are having to reduce prices in order to make their homes more attractive to buyers.

Information from a recent survey of 3 million homes (no foreclosures where included) shows that, overall, $28.1 million has been slashed from prices across the United States. On average, most homes have seen a reduction of 10% in their sales price, whilst 26% of properties have had at least one reduction.

Meanwhile, sales have increased by 11% as a recent tax credit for first-time buyers has helped demand.

The data provides an interesting insight into those properties that aren't foreclosed, as it essentially shows that ordinary properties for sale are also - for the most part - being reduced in price. As the property market is still rather sluggish, it's particularly necessary if homeowners do genuinely want to sell their property. Having had experience of the (West) London property market, I've seen some properties remain unsold of months - even over a year - as stubborn owners refuse to drop prices, believing their home will be the one to buck the trend, that it will still be bought, regardless of the (high) price.

But there then comes a point where properties remain unsold for so long and, although there's demand, buyers aren't willing to pay over the odds in a market which is struggling. Finally, prices do come down and the property market can start to make recovery - however slowly.

So, this survey is good news, I feel. It's obviously also good news for those of you out there are are considering buying in the U.S.! If you've had a search for American property before, why not take another look and see if prices for the kind of thing you're interested in really have gone down?

Article: Home sellers keep on cutting prices (12th November 2009, Miami Herald)